Partner Communications Q3 Profit Declines 44%

Partner Communications Company (NASDAQ: PTNR) reported a 44% drop in its third-quarter profit. Partner Communications' quarterly net profit declined to 172 million shekels ($46 million), from 309 million shekels, in the year-ago period. Its revenue gained 6% to 1.75 billion shekels.

Partner Communications' earnings before interest, taxes, depreciation and amortisation (EBITDA) dipped 17% to 529 million. However, analysts were expecting earnings of 205 million shekels, EBITDA of 549 million shekels and revenue of 1.84 billion shekels.

Partner Communications declared a quarterly dividend of 0.90 shekel per ADS.

Partner Communications shares closed at $9.48 yesterday.